China YCT International Group, Inc Released its FY 2013 Results: Revenues Grew 2.9% to $34 Million
China YCT International Group, Inc（Symbol：CYIG）has recently released its 2013 fiscal year financial results ended March 31，2014（Please note that ‘CYIG’ has a fiscal year starting on April 1 and ending on March 31.）
■ Financial Results of FY 2013：As of March 31 2014，revenues grew by 2.9% from $33.10 million in FY 2012 to $34.06 million. The total profits increased by 5.9% year on year to $17.93 million.
■ During FY2013，the Huoliyuan capsules product sales was $23.08 million, which accounted for 67.8% of the total revenues, and the proportion grew by 6.2% over last fiscal year. The medicine products realized a gross profit of $12.15 million，which grew by 22.1% year on year. The production and distribution of the proprietary products has increased gradually and the proportion is also growing.
■ During FY 2013，the Company’s gross margin grew by 5.9% year on year to $17.93 million, which accounted for 52.6% of the total net profits，and the proportion increased 1.5% over the last fiscal year. The higher sales proportion is a result of the sales of Huoliyuan capsules, which created a higher gross margin compared to the health care products.
■ As of March 21,2014，the Company invested $1.23 million into scientific research and development，accounting for 3.6% of total revenues. At present, the Company has 27 R&D specialists, all of whom are engaged in the research and development of the new technology and related products.
■ With the readings from the financial numbers，the Company has operated its businesses in a temperate and stable way. The research and development of the new products has injected vitality into the company and laid the foundation for the sustainable development of the Company.